Galaxy Digital (OTCPK:BRPHF) Q1 earnings reflected an overall net loss driven by unrealized losses on digital assets as well as investments in its Trading and Principal Investment businesses. On a Y/Y basis, net comprehensive loss of $111.68M in Q1 dropped from a gain of $858.2M. Q1 advisory and management fees were $11.9M, up from $1.9M in Q1 a year ago. Interest income of $14.64M at the end of March compared with $8.5M in Q1 of last year. Cryptocurrencies held on its balance sheet totaled $2.27B in the first quarter. Partners' capital of $2.5B jumped from $1.7B in the year-ago quarter. Galaxy Digital Asset Managements' preliminary assets under management fell 5% to $2.7B in Q1 over the previous quarter. Also, investments of $1.0B at March 31 fell from $1.07B in Q4 2021, primarily due to partially exiting highly appreciated investments during this quarter. Meanwhile, bitcoin (BTC-USD -4.9%) is dropping to $33K in
